A CFL Bank? Using digital dollars as a new independent currency?Submitted by Ralph Waldo on Tue, 01/27/2009 - 06:32
I know the FED often doesn't actually print money they just enter it into a computer - it's like electronic or digital dollars.
A group of people like members of the CFL could pool their FRN dollars then convert these to gold or silver reserves. They could then form their own independent digital bank outside of the FED system and without fractional reserve banking.
It could operate for the good and convenience of it's members with people like RP, Peter Schiff, Lew Rockwell and Jimmy Rodgers on the board. Call it the CFL Bank! - Wa-La! a competing currency?